L/R: Madox Farm’s Meredith Thomas with HSBC’s Justin Long.
A Carmarthenshire dairy farm is increasing its milk production capacity after constructing a 9,600 sq ft dry cow-housing facility with the support of a six-figure finance package from HSBC.
The new building will enable Meredith Thomas, owner of Madox Farm near Trelech, to accommodate up to eighty post-calving cows in separate cubicles.
Managing the cows in the new facility will help prevent the spread of diseases and improve overall herd health, increasing milk yield by up to 1,000 litres per cow each year.
HSBC’s funding package has also enabled the second-generation farmer to increase his herd to 680 cows.
The finance has been drawn from a £300 million lending fund committed by HSBC to support agricultural businesses in the UK, as part of its wider support package to help British SMEs realise their growth ambitions.
“HSBC is very understanding of this business model and was incredibly supportive of my plans to expand.
“My relationship manager, Justin Long, is very knowledgeable of the sector and was able to put the right funding package in place for me to help me realise these ambitions.”
Euryn Jones, HSBC’s regional agriculture director for the South West and Wales region, commented: “Since taking over the business in 2015, Meredith has impressively grown and evolved Madox Farm and HSBC has been a proud supporter of these expansion plans.
“With decades of experience in agriculture, HSBC is passionate about supporting dairy farmers like Meredith, helping them to achieve their aspirations and thrive in the industry.”
A ‘dry cow’ is a cow that isn’t milked for the last 45-90 days of their nine-month pregnancy, giving them time to rest and prepare for giving birth.
Madox Farm, which now operates under CGMT Limited, has been run by the Thomas family for almost 40 years. The farm currently employs five full-time staff.